Qwest CEO sees opening for mergers
By Amy Thomson, Bloomberg News
Friday, September 18, 2009
chief executive Ed Mueller said there are more opportunities for
acquisitions now because stock prices have dropped through the
Qwest might buy other companies or sell its own businesses as
the number of phone carriers contracts, said Mueller, 62, at a
Goldman Sachs Group conference Thursday in
New York. Denver-based Qwest provides
local-phone service in 14 states.
Carriers are looking to acquisitions to help spur growth as
their fixed-line customers switch to other options, such as
phone service with cable- television operators.
Verizon Communications bought Alltel for about $28 billion this
year, and AT&T is seeking regulatory approval to buy wireless
carrier Centennial Communications.
Qwest halted bidding for its long-distance network three months
ago after failing to attract satisfactory offers. Mueller
said that after a review, Qwest decided the network was worth
more to investors within the company.